Form 4: RGC Resources VP & COO C. James Shockley Jr. Acquires Shares Through Restricted Stock Plan
SEC Form 4 Filing
RGC Resources VP & COO, C. James Shockley Jr., acquired 5,135 shares of common stock at $20 per share on January 2, 2025, through a restricted stock plan.
Summary
- C. James Shockley Jr., VP & COO of RGC Resources Inc., acquired 5,135 shares of common stock on January 2, 2025, at a price of $20 per share.
- These shares were granted under a restricted stock plan, with vesting occurring over a three-year period.
- 1,711.667 shares vested on January 2, 2025, with another 1,711.667 shares scheduled to vest on January 2, 2026, and the remaining 1,711.666 shares vesting on January 4, 2027.
- Following this transaction, Mr. Shockley directly owns 37,837.355 shares, which includes unvested restricted stock from current and prior grants, as well as shares purchased through dividend reinvestment plans.
Sentiment
Score: 7
Explanation: The document reflects a routine insider transaction, which is generally neutral to positive. The acquisition of shares by an executive can be seen as a sign of confidence in the company.
Positives
- The acquisition of shares by a company executive can be seen as a positive sign of confidence in the company's future performance.
- The vesting schedule of the restricted stock plan may incentivize the executive to remain with the company and contribute to its long-term success.
Industry Context
This filing is a routine disclosure of insider transactions, which is common in publicly traded companies. It provides transparency into the ownership changes of company executives.
Comparison to Industry Standards
- Restricted stock grants are a common form of executive compensation across various industries, including utilities like RGC Resources.
- The vesting schedule of three years is also a typical practice to align executive interests with long-term company performance.
- Companies like Southern Company and Dominion Energy also use similar stock-based compensation plans for their executives.
Stakeholder Impact
- The stock acquisition by the VP & COO may positively influence shareholder confidence.
- The vesting schedule of the restricted stock plan may incentivize the executive to remain with the company and contribute to its long-term success, which benefits all stakeholders.
Key Dates
| Date | Description |
|---|---|
| 06/03/2016 | Date employee stock options at $14.147 were exercisable. |
| 06/08/2017 | Date employee stock options at $16.367 were exercisable. |
| 11/01/2024 | Date of dividend reinvestment purchases. |
| 01/02/2025 | Date of stock acquisition and first vesting of restricted stock. |
| 01/02/2026 | Date of second vesting of restricted stock. |
| 01/04/2027 | Date of final vesting of restricted stock. |
| 12/03/2025 | Expiration date of employee stock options at $14.147. |
| 12/08/2026 | Expiration date of employee stock options at $16.367. |
| 01/06/2025 | Date of Form 4 filing. |
Keywords
RGC Resources, Stock Acquisition, Restricted Stock, Insider Trading, Form 4, Executive Compensation, Share Ownership
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